COSCO SHIPPING Ports Limited, a large global ports operator, today announced the third quarter results of the Company and its subsidiaries for the three months and the nine months ended 30 September 2021.
2021 Third Quarter Results Highlight
- Revenue increased by 9.5% YoY to US$295.8 million
- Gross profit increased by 9.9% YoY to US$77.5 million
- Share of profits from joint ventures and associates increased by 5.7% YoY to US$84.6 million
- Profit attributable to equity holders of the Company increased by 0.2% YoY to US$86.1 million
2021 Nine months Results Highlight
- Revenue increased by 19.1% YoY to US$860.6 million
- Gross profit increased by 33.1% YoY to US$225.8 million
- Share of profits from joint ventures and associates increased by 24.4% YoY to US$259.8 million
- Profit attributable to equity holders of the Company increased by 5.0% YoY to US$261.8 million
- Profit attributable to equity holders of the Company was US$261.8 million, an increase of 44.8% (excluding one-off items)
COSCO Ports (Yangzhou) Limited together with its 51% interest in Yangzhou Yuanyang International Ports Co., Ltd. and all the shares in Win Hanverky Investments Limited together with its 51% interest in Zhangjiagang Win Hanverky Container Terminal Co., Ltd. and 4.59% interest in Yangzhou Yuanyang Terminal and the one-off after-tax disposal gain of US$7,074,000 from the disposal of Jiangsu Yangtze Petrochemical Co., Ltd.
Financial review
During the period of the first 9 months, driven from the positive impact from our lean operation strategy and global market recovery, revenue of the Company increased by 19.1% YoY to US$860.6 million. Excluding one-off items, profit attributable to equity holders of the Company increased by 44.8% YoY to US$261.8 million. The gross profit in the same period increased by 33.1% YoY to US$225.8 million.
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For more information:
Ricky NG
COSCO SHIPPING Ports Limited
Tel: +86 2809-8131
Fax: +86 2907-6088
Email: [email protected]
